Ameriprise Financial Inc. Buys 555,815 Shares of Atlassian Co. (NASDAQ:TEAM)

Ameriprise Financial Inc. increased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 446.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 680,320 shares of the technology company's stock after acquiring an additional 555,815 shares during the period. Ameriprise Financial Inc. owned about 0.26% of Atlassian worth $165,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter valued at about $27,000. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 4th quarter valued at approximately $39,000. Avion Wealth raised its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares of the company's stock, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $209.19, for a total value of $1,662,642.12. Following the sale, the chief executive officer now owns 158,960 shares of the company's stock, valued at $33,252,842.40. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,734 shares of company stock valued at $62,098,082 in the last ninety days. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Down 0.5 %

NASDAQ:TEAM traded down $0.97 during trading hours on Friday, reaching $207.25. 1,479,864 shares of the company traded hands, compared to its average volume of 2,083,327. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The business's 50-day moving average price is $215.36 and its two-hundred day moving average price is $245.61. The stock has a market capitalization of $54.30 billion, a P/E ratio of -154.66 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEAM shares. Truist Financial decreased their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. KeyCorp reduced their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Stephens decreased their price objective on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.